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May 28, 2020, 12:00 p.m. EDT

Why hedge-fund manager Bill Ackman says he dumped Berkshire Hathaway but held on to these winners

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By MarketWatch

MARKETWATCH FRONT PAGE

Pershing Square Capital Management hedge-fund manager Bill Ackman told investors on a call on Wednesday that he is dumping Warren Buffett’s Berkshire Hathaway. The stocks he bought more of and is keeping are worth paying attention to. See full story.

Jobless claims rise over 2 million again but data offer glimmer of hope

Initial claims for U.S. jobless benefits rose by more than 2 million for the tenth straight week, but the drop in continued claims show some people are finding work, the Labor Department said Thursday. See full story.

COVID-19 could be the final nail in the coffin of HP’s printing business

HP Inc. saw profits in its struggling printer business dip below the profits in PCs for the first time in at least five years, as most corporate offices have closed during the pandemic, and the next quarter is expected to be even worse for printing, once the company’s cash cow. See full story.

Revoking Hong Kong’s special status is Trump’s ‘nuclear option’ that could trigger irrevocable U.S.-China split, analysts warn

Secretary of State Mike Pompeo declared Hong Kong to be no longer autonomous from China Wednesday, a move that further increases U.S.-China tensions and could pave the way for changes to U.S. policy toward Hong Kong that could have massive ramifications for the Hong Kong, Chinese and American economies. See full story.

Trump to sign executive order on social-media companies on Thursday

President Donald Trump is poised to sign an executive order on social media companies Thursday, escalating his war on Twitter Inc., although it remains unclear what it will entail. A White House spokesperson confirmed the order late Wednesday, a day after Twitter issued its first fact-checking warning label to some of his tweets. See full story.

MARKETWATCH PERSONAL FINANCE

The number of people applying for loans to purchase a home has increased for six consecutive weeks after falling earlier in the coronavirus outbreak. See full story.

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